GCM Grosvenor Inc. (NASDAQ:GCMG) Shares Bought by Ameriprise Financial Inc.

Ameriprise Financial Inc. grew its stake in shares of GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) by 9.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,892,934 shares of the company's stock after acquiring an additional 519,226 shares during the period. Ameriprise Financial Inc. owned about 3.12% of GCM Grosvenor worth $72,306,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. R Squared Ltd purchased a new stake in GCM Grosvenor in the fourth quarter valued at $57,000. Quantbot Technologies LP boosted its holdings in GCM Grosvenor by 1,474.0% in the fourth quarter. Quantbot Technologies LP now owns 9,334 shares of the company's stock valued at $115,000 after purchasing an additional 8,741 shares during the last quarter. Bleakley Financial Group LLC purchased a new stake in GCM Grosvenor in the fourth quarter valued at $127,000. Truist Financial Corp purchased a new stake in GCM Grosvenor in the fourth quarter valued at $157,000. Finally, Longboard Asset Management LP purchased a new stake in GCM Grosvenor in the fourth quarter valued at $166,000. Institutional investors own 99.95% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on GCMG shares. UBS Group increased their target price on shares of GCM Grosvenor from $13.00 to $14.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Piper Sandler lowered their target price on shares of GCM Grosvenor from $16.00 to $14.50 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Oppenheimer upped their price target on shares of GCM Grosvenor from $16.00 to $17.00 and gave the stock an "outperform" rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $13.60.

GCM Grosvenor Price Performance

Shares of GCMG traded down $0.07 during midday trading on Tuesday, reaching $12.55. 563,884 shares of the stock were exchanged, compared to its average volume of 286,880. The business's 50-day moving average price is $12.74 and its 200 day moving average price is $12.75. GCM Grosvenor Inc. has a twelve month low of $9.25 and a twelve month high of $14.48. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 418.33 and a beta of 0.74.

GCM Grosvenor (NASDAQ:GCMG - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). GCM Grosvenor had a net margin of 3.64% and a negative return on equity of 101.23%. As a group, equities research analysts expect that GCM Grosvenor Inc. will post 0.64 earnings per share for the current fiscal year.

GCM Grosvenor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, June 6th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 3.51%. The ex-dividend date is Friday, June 6th. GCM Grosvenor's dividend payout ratio (DPR) is presently 314.29%.

About GCM Grosvenor

GCM Grosvenor Inc is global alternative asset management solutions provider. The firm primarily provides its services to pooled investment vehicles. It also provides its services to investment companies, high net worth individuals, pension and profit sharing plans and state or municipal government entities.